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Search Results 0 to 49 of about 103 (some duplicates have been removed)
's to u.s. lawmakers: avert the fiscal cliff, or risk a credit downgrade. >> tom: i'm tom hudson. we're going global with legendary investor mark mobius, franklin templeton's top strategist on the state of emerging marketnow. >> susie: and picture this: the u.s. is just a few years away from being the world's top oil producer, and self-sufficient. we'll tell you who's making that prediction, and investment strategies for your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s.'s top-notch credit rating is at risk. that's the warning today from moody's investor's service. the ratings agency told u.s. lawmakers that when it comes to the fiscal cliff, the time to act is now, not next year. moody's said if action on averting the cliff is delayed until 2013, it might downgrade the stellar credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fisca
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. onomy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to cut
and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settlement with the securities and exchange commission. b.p. will pay more than h
is on assignment tonight. a repeated warning to washington-- if the u.s. goes over the fiscal cliff, it would push the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, ext
classes this year. >> tom: the u.s. economy was hotter than first thought this summer. in the newest data on the gross domestic product, the economy grew in the third quarter at its fastest pace of the year. the revised report said the economy grew at a 2.7% clip. that's well above the previously reported 2% growth. adding fuel was restocking inventories, which is not expected to continue. higher federal government spending and stronger u.s. exports also helped. the impact super-storm sandy has had on the job market seems to be dissipating. 23,000 fewer americans filed for first-time unemployment benefits during thanksgiving week compared to a week earlier. the total was 393,000. it had jumped to over 400,000 in the weeks following the storm. still, we saw just modest gains on wall street today-- the dow rose 36 points, the nasdaq was up 20, and the s&p 500 added six. >> tom: the roster of companies announcing special one-time paydays for their shareholders continued growing today. taxes on stock dividends are currently set at 15%. but with no deal on the fiscal cliff, dividends will be t
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
can do if the u.s. heads into recession because of the fiscal cliff, bernanke says, not much. >> in the worse case scenario, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analys, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the weapons in his arsenal to fix the job market, which he said today is still "unhealthy". he also repeated the fed's plan to keep interest rates super low at least into 2015. >> we will want to be sure that the recovery is established before we begin to normalize policy. we hope that such assurances will reduce uncertainty and increase confidence among households and businesses. >> susie: but bernanke gave no hints on when americans can expect to see higher rates. >> the further we go down the road, the question
evening i susie gharib. u.s. stocks are trading again, after hurricane sandy forces an historic two-day shutdown. >> gom: llll street gets back to business, as damage and recovery estimates start to climb, plus,e what it takes to restore power to millions in the northeast. >> susie: and with stocks open for trading, no surpri, home depot was the dow's standout., >> tom: lots ahead, that and more tonight on "n.b.r."! >> susie: an historic day on here on wall street, after the storm of the century knocked down the financial district. us stoto markets resumedtsed operations today after two days in the dark, stocks were little changed: both the dow and the nasdaq fell 10 points, but the s&p 500 gained a fraction. trading here at the new york stock exchange opened without a hitch. th new york stock exchange opened right on time. and as new york's mayor bloomberg rang the opening bell this morning, traders were happy to be back to work. it looked like a normal day, with the buzz of activity, traders milling about. it was anything but normal no one knows that better than larry leibowitz, t
on your day-to-day business? >> i'm looking more am i going to continue to grow outside of the u.s. or invest in my facilities in the u.s. in the main, that's still true, but you can't just act like everything is fine when it is not. and i don't know all of the details of his answer, but i can't imagine he said he is acting like nothing is going on out there. >> susie: so you talk about taxes, and taxes are at the center of all of these negotiations. are you open to new taxes? how would that impact your business? >> well, at the end of the day, we all recognize that we need entitlement reform in the country. that's actually the big nut. that's the thing that needs to happen. the only way you're going to get that, though, is by having some kind of tax increase.p4l& >> susie: well, i hope it all works out. thank you so much, david. we really appreciate your time. >> thank you, nice to be here. >> susie: we're speaking with david cote, c.e.o. of honeywell. >> tom: still to come, with the fiscal cliff fast approaching, more companies are offering special dividends with the threat of hi
the election. u.s. businesses added 171,000 jobs in october across many industries. four days after sandy, the gas crunch in jersey, access to cash in the northeast and controversy nixes sunday's running of the new york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the k message tre is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the lon
. beyond the u.s. elections, europe also brought fresh worries for investors with concerns in greece, and germany. here's how the numbers stacked up on wall street. the dow lost 312 points, at it's worst point of the day, the blue chip index was down 369 points. the nasdaq tumbled nearly 75 points and the s&p 500 off 33. suzanne pratt takes a look at where the market goes from here. >> reporter: let's be candid. this is not the election outcome that wall street wanted to see. after all many investors believe president obama's tax policies will hurt corporate profits. on top of that there's the likelihood of more regulation in the president's second term. those concerns were evident in selling today of energy, banking and healthcare stocks. a quick look at the price board at the new york stock exchange is a good barometer for the worrywarts out there. wall street veteran teddy weissberg says many investors are just plain upset. >> there was an expectation that we would have some change and a change in the policies. and, i think with obama getting re-elected there are a lot of folks th
that that will plunge the u.s. economy into recession and an unemployment rate back over 9%. >> i'm about in agreement with them. i think there are a few details i'm looking for. i look for the bush tax cuts to expire, the payroll tax holiday to expire, and that tow moo is a 3% cracks of the fiscal budget, and that would, indeed, push, in my analysis, push the u.s. back into recession. >> tom: what's the impact if we go over the cliff but are able to pull ourselves back, say, the first or second week in january. some are saying there are some odds of that happening. we could go over the cliff do see the threat but pull ourselves back. could there be damage done that's irreversible? >> there-- when you think about it, the fiscal cliff is sort of kind of a theoretical thing. the treasury, as we saw last year when we dealt with the debt ceiling crisis. the treasury has been groomed to adjusting so maybe the checks they can't write or the cuts they make might be later in the next few months. it gives them a little bit more time. the bush tax cuts, well, that would happen, but things could be grandfathered
days have been rough for the stock market. but, given those are the same eight days since the u.s. election, it doesn't take a geniuso figure out what's put investors in a funk. it's all about what's happening 200 miles from wall street. negotiations between the white house and congress are holding equities hostage. >> we are right now pricing in the instability of policymaking. politics are very difficult to forecast. if you think markets are difficult to forecast, try forecasting politics. >> reporter: if discussions are at impasse, stocks sink as they have for the past several days. if progress on the fiscal cliff is constructive, the market gains ground. but, floor broker doreen mogavero thinks today's gain were technical. >> i think honestly people were covering shorts. i don't think it was very euphoric rally where people were saying oh good now we can move on. i think people were saying better not be short going into this weekend in case the come up with a template for a deal before thanksgiving. >> reporter: prior to the election, the s&p 500 was up an impressive 13% for t
Search Results 0 to 49 of about 103 (some duplicates have been removed)

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